HCL Tech Reports 1.5% Rise in Q4 Net Profit

HCL Technologies reported a net profit of Rs 2,227 crore for the fourth quarter of 2017-18 in a stock exchange filing on Wednesday. The profit is up by 1.5 percent compared to Rs 2,194 crore in the previous quarter ended December 2017. The shares of HCL Tech fell as much as 5 percent in opening trade to Rs 1,000.05 (NSE), check the latest price here.

The sales in dollar terms were up by 2.5 percent to $2,038 million whereas earnings before interest and tax (EBIT) rose 2.9 percent to Rs 2,583 crore. EBIT margins have remained unchanged at 19.6 percent.

The manufacturing segment was the highest contributor at 34.6 percent of overall revenue but lower than the 36.5 percent contribution last quarter. HCL Tech's revenue from telecommunications and media services increased to 8.4 percent compared to 7.4 percent.

Year-on-year (YoY)

The IT firm's YoY consolidated net profit was however down by 4.3 percent from Rs 2,325 crore in March 2017. EBITDA margin grew by 100 bps to 35 percent from 33.7 percent the fourth quarter in the previous year.

HCL Tech's YoY consolidated net profit was down by 9.9 percent. Consolidated net sales rose by 9.3 percent to Rs 13,179 crore compared to Rs 12,053 in the quarter ended March 2017.